The $110 billion acquisition of Warner Bros. Discovery (NASDAQ:WBD) by Paramount Skydance Corporation (NASDAQ:PSKY) has reportedly been delayed by a week due to an ongoing investigation by the Oregon attorney general’s office.

Paramount will not finalize its acquisition of Warner Bros until July 22. The Oregon attorney general’s office revealed this decision on Wednesday, extending the deal’s closure by an additional week, Reuters reported on Thursday.

The office of Oregon Attorney General Dan Rayfield requested a Multnomah County court on Wednesday to compel Paramount to submit records and postpone the deal by 60 days for state review. Paramount had previously assured Oregon that the deal would not be closed before July 16, according to Rayfield’s office.

During a preliminary hearing on the state’s request on Wednesday, Paramount revised this timeline, Rayfield’s office reported.

Paramount did not immediately respond to Benzinga’s request for comments.

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EU Review Extends Merger Timeline

This delay comes on the heels of Paramount’s efforts to clear regulatory hurdles in the European Union. Earlier this month, the company expressed confidence in its proposed solutions to address the European Commission’s concerns. The decision deadline was extended from July 7 to July 22 to allow time for the assessment of the proposed remedy.

Earlier, in June, the Department of Justice (DOJ) had approved the merger without requiring divestitures or other concessions, finding it unlikely to harm competition or consumers across streaming, TV, and film distribution. The approval reportedly followed Paramount CEO David Ellison‘s meeting with DOJ officials during the review.

The Competition Protection Agency of Kuwait, the Austrian Federal Competition Authority, and the Australian government have also unconditionally approved the merger.

Under the deal, Paramount will acquire Warner Bros. Discovery for $31 per share in cash, valuing the company at $110 billion. The merger combines major streaming platforms, studios and TV networks, bringing franchises including Game of Thrones, Harry Potter, Mission: Impossible, Top Gun, the DC Universe and SpongeBob SquarePants under one company.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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